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Overconfident Investors, Predictable Returns, and Excessive Trading

Daniel, Kent - 2016

Individuals and asset managers trade aggressively, resulting in high volume in asset markets, even when such trading results in high risk and low net returns. Asset prices display patterns of predictability that are difficult to reconcile with rational expectations-based theories of price...

Persistent link: https://www.econbiz.de/10012456728

Liquidity biases in asset pricing tests

Asparouhova, Elena; Bessembinder, Hendrik; Kalcheva, Ivalina - In: Journal of financial economics 96 (2010) 2, pp. 215-237

Persistent link: https://www.econbiz.de/10003979145

Decision fatigue and heuristic analyst forecasts

Hirshleifer, David; Levi, Yaron; Lourie, Ben; Teoh, … - In: Journal of financial economics 133 (2019) 1, pp. 83-98

Persistent link: https://www.econbiz.de/10012164066

Decision Fatigue and Heuristic Analyst Forecasts

Hirshleifer, David - 2018

firms and often issue several forecasts in a single day. We find that forecast accuracy declines over the course of a day as … closely with the consensus forecast, by self-herding (i.e., reissuing their own previous outstanding forecasts), and by … issuing a rounded forecast. Finally, we find that the stock market understands these effects and discounts for analyst …

Persistent link: https://www.econbiz.de/10012453421

Accruals, cash flows, and aggregate stock returns

Hirshleifer, David; Hou, Kewei; Teoh, Siew Hong - In: Journal of financial economics 91 (2009) 3, pp. 389-406

Persistent link: https://www.econbiz.de/10003833648

Firm characteristics and long-run stock returns after corporate events

Bessembinder, Hendrik; Zhang, Feng - In: Journal of financial economics 109 (2013) 1, pp. 83-102

Persistent link: https://www.econbiz.de/10009764315

Stock and Bond Pricing in an Affine Economy

Bekaert, Geert - 1999

This article provides a stochastic valuation framework for bond and stock returns that builds on three different pricing traditions: affine models of the term structure, present-value pricing of equities, and consumption-based asset pricing. Our model provides a more general application of the...

Persistent link: https://www.econbiz.de/10012471438

Shared analyst coverage : unifying momentum spillover effects

Ali, Usman; Hirshleifer, David - In: Journal of financial economics 136 (2020) 3, pp. 649-675

Persistent link: https://www.econbiz.de/10012545703

Macro News and Micro News : Complements or Substitutes?

Hirshleifer, David - National Bureau of Economic Research - 2021

We study how the arrival of macro-news affects the stock market's ability to incorporate the information in firm-level earnings announcements. Existing theories suggest that macro and firm-level earnings news are attention substitutes; macro-news announcements crowd out firm-level attention,...

Persistent link: https://www.econbiz.de/10012585415

Mood beta and seasonalities in stock returns

Hirshleifer, David; Jiang, Danling; Meng, Yuting - In: Journal of financial economics 137 (2020) 1, pp. 272-295

Persistent link: https://www.econbiz.de/10012631338